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The report shows that in the second quarter of this year, Caterpillar achieved sales revenue of US$7.975 billion, a decrease of 41% over the same period of last year. As the layoffs caused an additional expenditure of 85 million U.S. dollars, the company's net profit fell by 66% to 371 million U.S. dollars.
However, compared with the first quarter, Caterpillar's operating performance has improved significantly. Affected by the global economic crisis, Caterpillar lost 0.19 US dollars per share in the first quarter, the first quarterly loss in 17 years.
U.S. Engineering Machinery Manufacturing Giants Significantly Decline in Revenue in the Second Quarter
The US construction machinery giant Caterpillar announced on the 21st the second-quarter financial report that the company achieved a quarterly earnings per share of $0.60, a decrease of $1.14 or 66% from the same period last year.